Ten takeover bids have so far been submitted for Groupe Doux, the embattled French poultry giant told just-food today.
The offers concern seven different groups, some of which have bid both individually and collectively to take over Doux.
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The groups in question are Daviet, Cavac Ciab, Financière Turenne Lafayette, LDC, Sofiprotéol, Tilly-Sabco and Terrena.
“It’s our understanding that the judicial administrators will use the period between now and the week commencing 23 July to incite the bidders to improve their
offers ahead of an audience at the Paris commercial court scheduled to be held before the end of the month,” the Doux spokesman said.
Independent of these bids, Doux’s current shareholders have also submitted a plan to continue to run the business.
French agri-food investment group, Sofiprotéol, has confirmed it is leading a consortium that submitted a bid for Doux. The consortium brings together Sofiprotéol’s subsidiary, Glon Sanders, Duc, LDC, Terrena , Tilly-Sabco and Triskalia.
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By GlobalData“It is a coordinated and structured offer covering all of its [Doux’s] activities and markets thus meeting the government’s requirements at all levels. The offer aims to structure the French poultry sector from top to bottom, the ultimate ambition being to improve the competitiveness of French products,” Sofiprotéol said.
Commenting on reports the business re-generation ministry considered the offers submitted to be unsatisfactory, a source close to the negotiations said:
“The judicial administrators know what they are doing and will favour a global bid for Doux, which safeguards a maximum number of jobs and at a price which will enable its shareholders to meet their committments to creditors.”
